While the story is typical of some fairy tales, and it did hold my interest, the illustrations were not as engaging as Lobel's usual artistry.
There are two daughters of a nasty mother. One is kind, generous and loving, the other, the biological child, is nasty, self centered and vile. When Renee, the step daughter, comes upon an elderly woman, she is asked to fetch some water. While getting the water, she befriends a bird and a rabbit. Her reward from the old woman is that whenever she opens her mouth, diamonds and jewels will flow forth.
When the biological daughter is told to find the old lady and get her reward, She does not meet an elderly lady, but rather meets a lovely woman who requests water. Rude, nasty and begrudging, she is ugly to the critters along the way. Her reward from the lovely lady is that when she opens her mouth, snakes and toads will spew forth.
The mother tires of snakes and toads and sends her daughter away. Renee happens upon, a prince who uses the jewels as a dowry. They live ..... happily ever after.